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Royal Mail restructuring take virus hit, dividend cancelled

March 27 (Reuters) - Royal Mail said on Friday its heavily-disputed turnaround program would take longer than previously planned as it cancelled its dividend and suspended financial forecasts for the next year due to the coronavirus crisis.

The former UK postal monopoly said advertising mail had fallen heavily due to the coronavirus outbreak, while its international operations have also seen lower volumes due to restrictions in some countries, mainly China.

It also added, however, that its parcels business has seen strong volumes over the last two weeks, as more people shop online to avoid public spaces due to the fear of infection.

(Reporting by Muvija M in Bengaluru; editing by Patrick Graham)